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Is there a private lender to trust for an auto loan during Ch 13 bankruptcy?
Wiki User
∙ 12y ago
Hello,i am Mrs Deborah from California Us,i was so much in need of loan to carry out transaction so i decided to go my bank but they refused to grant me the loan because of credit check,so i posted a question on Yahoo answer on how i needed a loan,one Mr David Williams recommend one legit loan firm to me by the name direct access loan firm,i decided to give them a try to my greatest surprise my loan was granted and transfer to my bank account without cosigner,collateral,credit check and with just 5% interest rate so i will advise everyone out there that need a loan to contact them via this email,directaccessloanfirm@gmail.com
Wiki User
∙ 12y ago
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Can you have a trust and file for bankruptcy?
You can have a trust and file for bankruptcy but the more important question is whether you should given what is in the trust, who transferred the assets into the trust and who is a beneficiary of the trust. If you have set up a trust and have irrevocably transferred all of your interest to assets to the trust then there may be questions of whether the transfers were proper and allowable under bankruptcy law. If you are a beneficiary of a trust the question becomes whether your beneficial interest in the trust is protected when you file for bankruptcy. This will depend on reviewing the facts of how the trust and reviewing the trust documents.
Can a mortgaged property be placed in trust?
No. Not without the lender's approval.No. Not without the lender's approval.No. Not without the lender's approval.No. Not without the lender's approval.
Can the assets in a revokable living trust be affected by a bankruptcy of the trust holder?
Yes.
Can a future beneficiary borrow against his assets in trust?
If the trust is a spendthrift trust, then no, the beneficiary probably cannot borrow against it. It is up to the lender.
Can banks go after spouse if the house is not in her name during a foreclosure?
The lender must first look to the property to be paid. The lender can only go after the person who signed to note. If the spouse is not on the note they can not seek recovery against her. If the lender completes a nonjudicial foreclosure (no court involvement) it can not look to the borrower for additional monies owed on the debt. The one action rule requires the lender to elect to seek recovery by foreclosing or suing the borrower. The only way the lender can go after the borrower and the property is if the lender files a judicial foreclosure action with the court and seeks a deficiency judgment against the borrower. If the wife did not sign the deed of trust in California or states that have deeds of trust, the non signing spouse can seek to have the deed of trust voided entirely as both spouses must sign the deed of trust to bind community property.
Is property held in an irrevocable trust protected in bankruptcy?
Can you protect your assets from bankruptcy by placing them in an irrevocable trust?
Can you have a trust and file for bankruptcy?
You can have a trust and file for bankruptcy but the more important question is whether you should given what is in the trust, who transferred the assets into the trust and who is a beneficiary of the trust. If you have set up a trust and have irrevocably transferred all of your interest to assets to the trust then there may be questions of whether the transfers were proper and allowable under bankruptcy law. If you are a beneficiary of a trust the question becomes whether your beneficial interest in the trust is protected when you file for bankruptcy. This will depend on reviewing the facts of how the trust and reviewing the trust documents.
Is a living trust EXEMPT FROM BANKRUPTCY?
Sometimes, parts of a living trust can be exempt from bankruptcy such as exemptions for a homestead, but even that isn't always the case. How a living trust is treated in a bankruptcy varies depending on how the laws of the state treat this type of trust as a whole. Typically though, living trusts are not fully exempt from bankruptcy.
Can a mortgaged property be placed in trust?
No. Not without the lender's approval.No. Not without the lender's approval.No. Not without the lender's approval.No. Not without the lender's approval.
Does a lender need to file a deed of trust on your property?
It depends on the jurisdiction. The lender needs to file a deed of trust or a mortgage to protect its security interest in the property.It depends on the jurisdiction. The lender needs to file a deed of trust or a mortgage to protect its security interest in the property.It depends on the jurisdiction. The lender needs to file a deed of trust or a mortgage to protect its security interest in the property.It depends on the jurisdiction. The lender needs to file a deed of trust or a mortgage to protect its security interest in the property.
Can the assets in a revokable living trust be affected by a bankruptcy of the trust holder?
Yes.
Can a future beneficiary borrow against his assets in trust?
If the trust is a spendthrift trust, then no, the beneficiary probably cannot borrow against it. It is up to the lender.
Can banks go after spouse if the house is not in her name during a foreclosure?
The lender must first look to the property to be paid. The lender can only go after the person who signed to note. If the spouse is not on the note they can not seek recovery against her. If the lender completes a nonjudicial foreclosure (no court involvement) it can not look to the borrower for additional monies owed on the debt. The one action rule requires the lender to elect to seek recovery by foreclosing or suing the borrower. The only way the lender can go after the borrower and the property is if the lender files a judicial foreclosure action with the court and seeks a deficiency judgment against the borrower. If the wife did not sign the deed of trust in California or states that have deeds of trust, the non signing spouse can seek to have the deed of trust voided entirely as both spouses must sign the deed of trust to bind community property.
Can a creditor claim assets held for a beneficiary in trust in case of bankruptcy of the beneficiary?
Not if the trust was properly drafted by a professional.
Does SPA Trust asset protection work in bankruptcy?
It can, provided the trust is written properly and, often more important, the transfer of property to the trust is not able to be considered a fraudulent transfer. You should consult an attorney to see if it would work for you, because everyone's facts are different. Todd H's experience: "I put a home in a SPA Trust a couple years ago and recently went through a business and personal bankruptcy. We disclosed everything to the bankruptcy judge and he said it was perfectly legal and a SPA Trust is not included in bankruptcy. I still have a home to show for it."
What are the elements of credit?
One of the elements of credit is trust. The lender must have trust that you are able to repay your loan. Other elements include, time period, this is the time it will take to be repaid, achievement, which is the fees and interest that the lender gets, and risk.
Is it possible to get a mortgage in the name of a irrevocable trust?
It depends on the lender. Generally, as long as the trust is valid and the borrower provides a copy of the trust, and an affidavit by the trustee that the trust is in effect and they are the current trustee, the mortgage can be executed. A properly drafted mortgage from a trust would be executed in the name of the trustee as trustee of the trust.It depends on the lender. Generally, as long as the trust is valid and the borrower provides a copy of the trust, and an affidavit by the trustee that the trust is in effect and they are the current trustee, the mortgage can be executed. A properly drafted mortgage from a trust would be executed in the name of the trustee as trustee of the trust.It depends on the lender. Generally, as long as the trust is valid and the borrower provides a copy of the trust, and an affidavit by the trustee that the trust is in effect and they are the current trustee, the mortgage can be executed. A properly drafted mortgage from a trust would be executed in the name of the trustee as trustee of the trust.It depends on the lender. Generally, as long as the trust is valid and the borrower provides a copy of the trust, and an affidavit by the trustee that the trust is in effect and they are the current trustee, the mortgage can be executed. A properly drafted mortgage from a trust would be executed in the name of the trustee as trustee of the trust.
